Blackberry posted an unexpected profit and the stock is popping
The embattled tech company posted earnings of $0.01 per share for the quarter, higher tha the $0.02 per share loss expected by analysts. The firm did miss on revenue, however, bringing is just $301 million against expectations of $332 million.
Guidance for the firm was also strong, with Blackberry upgrading its outlook for full-year, to breakeven from its previous projection of a $0.05 per share loss, and the fourth quarter, also to breakeven from a $0.01 per share loss.
The gains come one quarter after the firm said it would stop making its own phones, instead contracting out its hardware creation, and focus on its software division.
Following the news, shares of Blackberry were up roughly 3.75% to $8.00 per share as of 7:27 a.m. ET.
